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Paphos: Two arrests in fraudulent loan case

January 29, 2019 at 8:49am
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Two men are under arrest after a woman complained to police that she had been informed she owed money on loans she had never taken out.

The 49 year old was informed that she had three non-performing loans with a former co-op in east Paphos. She reported the issue to the police who after inquiries arrested a 65 year old former secretary of the former co-op and a 70 year old man, reported to be related to the woman.

The woman said she had been informed by the bank which has taken over the operations of the former co-op that she had three outstanding personal loans — two for the sum of 2000 euro and the third for 3000 euro that were taken out in 1987, 1990 and 1990.

The signature on the loan agreements were forged, she told police.

The two men are in custody for conspiracy, forgery, circulating forged documents and obtaining money under false pretences.